15-17 Kenneth St Hartford, CT 06114
- Apartment buildings
- 9,186 SF
- 0.14 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 15-17 Kenneth St
- Year built
- 1925
- Lot size
- 0.14 lot acres
- Property size
- 9,186 SF
- Property type
- Apartment buildings
Description
This exceptional value-add multifamily investment opportunity presents a three-story brick building at 15-17 Kenneth Street in Hartford, Connecticut's Barry Square neighborhood. The property boasts six residential units: four two-bedroom/one-bathroom and two three-bedroom/one-bathroom units, totaling 6,525 square feet of net rentable space within a 9,186 square foot gross building area. Situated on a 0.14-acre lot, this 1925-built property offers a compelling 7.27% cap rate with a current NOI of $39,960 and an asking price of $550,000 ($84 per square foot). Currently operating at 100% occupancy, this property presents significant value-add potential through rental increases to market rates and potential unit upgrades. The building benefits from a new boiler and hot water heater, with each unit individually metered for electricity (tenant responsibility). Landlord responsibilities include common area electricity, gas-fired heat, hot water, and water/sewer. Conveniently located near major roadways (Interstates 84 & 91, US Route 5, CT Route 99), public transportation, Trinity College, Hartford Hospital, and downtown Hartford, this property is ideally positioned within a densely populated residential area with strong rental demand and a high percentage of renters (Hartford's homeownership rate is 23.8%). The area's average household income exceeds $87,472, supporting strong rental income potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hartford
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.6845
- Latitude
- 41.741
